
The US Treasury reports a monthly deficit of $94.6 billion (vs $86.5 billion expected) in January 2026, below the $128.6 billion deficit reported in January 2025.
- Total revenues were up 9.1% YoY to $559.9 billion, outpacing total outlays up 2.0% YoY to $654.6 billion.
- The YTD deficit is $697.0 billion through the first four months of FY26, down -17.0% YoY from the deficit of $839.6 billion in the first four months of FY25.
- Revenue from customs duties was $27.7 billion in January, roughly the same as $27.9 billion in December. So far in FY26, revenue from customs duties is $117.7 billion, on track for about $350 billion in revenue from customs duties for the full fiscal year.